家庭资产、财富效应与居民消费升级——来自中国家庭追踪调查的微观证据  

Household Assets, Wealth Effect and Resident Consumption Upgrading——Micro-Evidence from China Family Panel Studies

作　　者：南永清 肖浩然[1] 单文涛 NAN Yong-qing;XIAO Hao-ran;SHAN Wen-tao(School of Government Audit,Nanjing Audit University,Nanjing 211815;School of Economics and Management,Southeast University,Nanjing 211189;School of Accounting,Nanjing Audit University,Nanjing 211815)

机构地区：[1]南京审计大学政府审计学院,江苏南京211815 [2]东南大学经济管理学院,江苏南京211189 [3]南京审计大学会计学院,江苏南京211815

出　　处：《山西财经大学学报》2020年第8期1-15,共15页Journal of Shanxi University of Finance and Economics

基　　金：国家社会科学基金重大项目(17ZDA038);国家社会科学基金青年项目(18CJL045);国家自然科学基金面上项目(71773063)。

摘　　要：基于中国家庭追踪调查的微观面板数据,考察了家庭资产对居民消费升级的影响。研究结果表明:家庭资产对居民消费的影响存在明显的资产效应和财富效应,且财富效应大于资产效应;户主年龄为36~50岁的家庭财富变动的消费升级效应更为明显,家庭资产增值主要促进了城镇的医疗保健类消费,且住房资产所引致的消费效应相对更大。进一步的研究显示,相较于住房资产的"抵押担保效应","直接财富效应"是影响消费升级的主要渠道。This study utilized the micro panel data of China Family Panel Studies to investigate the impact of household assets on household consumption upgrading.The research showed that household assets presented obvious asset effect and wealth effect on household consumption,and wealth effect was relatively bigger than asset effect.The consumption upgrading effect of the household wealth change was more evident in families with the head aging from 36 to 50.And household assets appreciation mainly promoted urban healthcare consumption,where the consumption effect caused by housing assets was bigger.Furthermore,compared with the"mortgage guarantee effect"of housing assets,"direct wealth effect"was the main channel of influencing consumption upgrading.

关 键 词：家庭资产 财富效应 资产效应 消费升级 资产结构 

分 类 号：F063.2[经济管理—政治经济学]